Healthcare Services Group (NASDAQ:HCSG) Hits New 52-Week High – Should You Buy?

Healthcare Services Group, Inc. (NASDAQ:HCSG)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $25.55 and last traded at $25.11, with a volume of 547742 shares. The stock had previously closed at $24.56.

Analyst Ratings Changes

Several equities analysts have recently commented on HCSG shares. Benchmark boosted their target price on shares of Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Royal Bank Of Canada lifted their target price on Healthcare Services Group from $22.00 to $24.00 and gave the company a “sector perform” rating in a research report on Thursday, April 23rd. UBS Group boosted their target price on Healthcare Services Group from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Wall Street Zen raised shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a report on Sunday, March 29th. Finally, Zacks Research upgraded shares of Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.00.

Healthcare Services Group Trading Up 2.2%

The firm has a 50-day moving average of $21.78 and a 200 day moving average of $20.35. The company has a market cap of $1.72 billion, a P/E ratio of 26.16 and a beta of 0.78.

Healthcare Services Group (NASDAQ:HCSG) last issued its earnings results on Wednesday, April 22nd. The business services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.15. Healthcare Services Group had a return on equity of 17.81% and a net margin of 3.67%.The business had revenue of $462.77 million during the quarter, compared to the consensus estimate of $479.79 million. During the same period in the previous year, the company posted $0.23 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities analysts predict that Healthcare Services Group, Inc. will post 1.01 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of HCSG. Miller Global Investments LLC bought a new position in Healthcare Services Group during the fourth quarter worth $26,000. EverSource Wealth Advisors LLC increased its stake in Healthcare Services Group by 163.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 1,356 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Healthcare Services Group in the fourth quarter valued at $33,000. KBC Group NV acquired a new position in shares of Healthcare Services Group during the first quarter valued at about $35,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Healthcare Services Group by 32.0% during the fourth quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock valued at $69,000 after purchasing an additional 877 shares during the period. Institutional investors and hedge funds own 97.97% of the company’s stock.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.